Multiple Choice
Identify the correct formula to calculate the cumulative principal paid on a mortgage loan for the second year of the loan (periods 1-12,where rate =5%,nper =120,present value = $147,000.
A) =CUMIPMT(.05/12, 120*12, 147000,12,1,0)
B) =CUMIPMT(.05/12, 120*12,-147000,1,12,0)
C) =ABS(CUMIPMT(.05/12, 120,-147000,12,1,0) )
D) =(ABS(CUMIPMT(.05/12, 120, 147000,1,12,0) )
Correct Answer:
Verified
Correct Answer:
Verified
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